Savaria Completes $14,375,000 Bought Deal Private Placement

2015-05-13

Laval, Quebec, May 13, 2015 – Savaria Corporation (“Savaria” or the “Company”) (TSX: SIS), North America’s leader in the accessibility industry, is pleased to announce that it has completed its previously-announced “bought deal” private placement of 2,875,000 common shares at a price of $5.00 per share, for gross proceeds to Savaria of $14,375,000, the underwriters having exercised in full their option to increase the initial size of the Offering. The common shares of Savaria issued in connection with this private placement are subject to a statutory hold period which expires on September 14, 2015.

The private placement was led by Cormark Securities Inc. and included the participation of PI Financial Corp, National Bank Financial Inc. and Laurentian Bank Securities Inc.

The net proceeds of the private placement will be used by Savaria for growth initiatives and for general corporate and working capital purposes.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

About Savaria

Savaria Corporation (savaria.com) is North America's leader in the accessibility industry focused on meeting the needs of people with mobility challenges. Savaria designs, manufactures, distributes and installs primarily elevators for home and commercial use, as well as stairlifts and vertical and inclined platform lifts. With the acquisition of Silver Cross, the Company now operates a lead generation program to capture and distribute leads on potential customers to over 100 affiliates in North America; also, it is a franchisor of stores through which new and recycled accessibility equipment is sold. In addition, Savaria converts and adapts minivans to be wheelchair accessible. The diversity of its product line, one of the world's most comprehensive, enables the Company to stand out by proposing an integrated and customized solution for its customers' mobility needs. Its operations in China have substantially grown and the collaboration with Savaria's other Canadian facilities increases its competitive edge in the market place. The Company records more then 60% of its revenue outside Canada, primarily in the United States. It operates a sales network of some 700 retailers and affiliates in North America and employs some 430 people at its head office in Laval and at its plants and sales offices in Montreal (Quebec), Brampton and London (Ontario), Calgary (Alberta) and Huizhou (China).

Forward Looking Statements

Certain information in this press release may constitute "forward-looking statements" regarding Savaria, including, without limitation, understanding of the elements that might affect the Company's future and its financial or operating performance, the costs and schedule of future acquisitions, supplementary capital expenditure requirements and legislative matters. Most frequently, but not invariably, forward-looking statements are identified by the use of such terms as "plan", "expect", "should", "could", "budget", "expected", "estimated" "forecast", "intend", "anticipate", "believe", variants thereof (including negative variants) or statements that certain events, results or shares "could", "should" or "will" occur or be achieved. Such statements involve known and unknown risks, uncertainties and other factors liable to cause Savaria's actual results, performance or achievements to differ materially from those set forth in or underlying the forward-looking statements. Such factors notably include general, economic, competitive, political and social uncertainties. Although Savaria has attempted to identify the key elements liable to cause actual measures, events or results to differ from those described in the forward-looking statements, other factors could have an impact on the reality and produce unexpected results. The forward-looking statements contained herein are valid at the date of this press release. As there can be no assurance that these forward-looking statements will prove accurate, actual future results and events could differ materially from those anticipated therein. Accordingly, readers are strongly advised not to unduly rely on these forward-looking statements.


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For more information, please contact:

Hélène Bernier, CPA, CA

Vice-President, Finance

helene.bernier@savaria.com

1-800-931-5655, ext. 248

www.savaria.com

Marcel Bourassa

President and Chief Executive Officer

marcel.bourassa@savaria.com

1-800-661-5112


Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.